Top Up Loans

If you already have a FAIRshare Loan, you can borrow more money when you apply for a Top Up Loan.

You do not need to have repaid your previous loan in full to apply for a Top Up Loan.

To apply for a *Top Up Loan you must:

• Have made at least three months’ repayments before applying for a top up loan.
• Not be in arrears on your existing loan.
• Not be currently bankrupt.
• Not be in a Debt Relief Order (DRO), Individual Voluntary Arrangement (IVA) or a Debt Management Plan.

> Applications are more likely to be approved if you:

Applications are more likely to be approved if you –

• can prove a regular source of income by using our Open Banking portal.
• are registered on the Electoral Roll at your current address.

Apply

*Excludes Holiday Loan, Christmas Loan.  Any outstanding loan balance will be taken into consideration when assessing your Top Up application.

How much can I apply to borrow?

You can apply to borrow between £50  – £7500 and loans of higher amounts may be considered. The maximum that can be borrowed is £7500 above your savings value.  Check on-line your current balance through Members Access.

Where top-up loans are made, a composite interest rate will be calculated and applied to the loan in total.  The composite interest rate takes into account both the rate applicable to the original loan and the rate applicable to the new loan.

Alternatively, download and complete the FAIRshare Loan Application Form. Return to the your local FAIRshare branch at Unit 3, Southwater Square, Southwater Way, Telford TF3 4JG.

We’d love to hear from you.

Do you have a question about FAIRshare services? Our team is ready to answer all your questions.

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